October 2007 Networth - Assets -1.57 %, Liabilities -1.07 %, Networth +0.82 %

Well the month of October has come and gone and now it is time for the low down dirty details as to where I stand compared to September.


Actually it looks like I am standing in almost the exact same place as I was in at the beginning of the month. About halfway though the month I changed around my direct deposit accounts which in turn resulted in me logging into my debt accounts to change the accounts from which they were drawing their funds. When doing this I was noticing accrued interest on the accounts that my Quicken didn't pick up. As a result I "trued-up" the account balances in Quicken to reflect the accrued interest charges.


Assets:
My assets went down about 1.5% this past month mainly due to a lower than normal account balance in my checking account and a small loss in my Roth IRA account.

Liabilities:
On the liabilities front I was able to retire $731 of my debt. Most of that came from paying down student loans and the loan on the Passat. Unfortunately I was only able to reduce my outstanding debt on my credit cards by $53. This is due to an unexpected mid-month balance transfer. I missed a payment on my Citi card that was sitting at 0% while I was at work in Richmond. Once I got the statement I noticed a huge charge for accrued interest which instantly set off my alarms. I called Citi to see if they would reenact my 0% if I cut them a check immediately - they denied the request. As a result I had to Xfer the debt to another card. After the Citi fees and the balanace Xfer fees I only netted a negative $53 towards my credit cards.

Looking Forward:
November does not look like a good month for making positive gains in my Networth. I have all my regular expenditures that I will need to pay plus I have a few things that will negatively impact my networth.

1. Car Insurance - my car insurance is due in November. That will be about $420 out of pocket that I will need to pay. When I was with ING I had an account specifically for the accrual of money for car insurance, however, I inadvertently liquidated this account when I left ING and I used some of the proceeds towards paying for other things. BAD TMAC! :-(
2. Auto Service - Also related to my car I have come up to my 30,000 mile service. This is one of the big scheduled service events for my car. Unfortunately the local VW dealer will bend me over for this one. I am expecting it to be in the neighborhood of $300.
3. Decreased Car Value - Related to #2, I am going to adjust down the value of my car in my Quicken account based on the new mileage which will further reduce my assets.
   
4. Thanksgiving - throw in a trip to Boston to see family and friends that I haven't seen in about a year and that will make for a quasi-expensive weekend. Luckily I was able to talk dad into footing the bill for the flight home to Boston (arguably the most expensive part) if I promised to drive up for Christmas. Now I just need to find a way to save some money on drinks and getting around!
   

November is going to be killer.

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